Dedicated funding for environmental projects - Draft law proposes the creation of a National Environmental Fund
The Ministry of Environment has issued for public consultation several amendments to the law "On Environmental Protection", which foresee for the first time the creation of a National Environmental Fund, as a public financial instrument to support projects in this field.
According to the draft law, the fund will function as a centralized financial mechanism, supporting the national environmental protection policy and will be administered by the ministry responsible for the environment. Financing sources will include the state budget, domestic and foreign funding, as well as other secondary revenues.
The legal amendments provide that this fund will finance projects and activities in the field of the environment, both from public and private entities, as well as initiatives of the ministry itself or subordinate agencies. The financing scheme can cover up to 100% of the cost of approved projects.
The accompanying report notes that the creation of the fund comes in response to the lack of a sustainable financial mechanism dedicated to the environment, given that funding is currently fragmented and uncoordinated. According to the document, this situation has limited the effectiveness and continuity of environmental policies in the country.
The draft law also aims to establish clear procedures for the selection and approval of projects, through a collegial structure within the ministry, with the aim of increasing transparency and accountability in the use of public funds.
According to the ministry, this mechanism is expected to increase capacities for financing environmental projects, mobilize domestic and international financial resources, and support the objectives of sustainable development and European integration, especially within the framework of Chapter 27.
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